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Significantly slow
- Oil demand growth is set to significantly slow by 2028, with a peak to take place before the end of the decade. According to the International Energy Agency (IEA), the use of oil for transport will go into decline after 2026 thanks to the use of more electric vehicles, an increase in biofuels, and reduced consumption.
finance.yahoo.com/news/oil-demand-growth-to-drastically-slow-down-by-2028-iea-111049351.htmlOil demand growth to drastically slow down by 2028, says IEA
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Jun 14, 2023 · The Oil 2023 medium-term market report forecasts that based on current government policies and market trends, global oil demand will rise by 6% between 2022 and 2028 to reach 105.7 million barrels per day (mb/d) – supported by robust demand from the petrochemical and aviation sectors.
Jun 14, 2023 · The IEA has forecast that global oil demand will rise by 6% between 2022 and 2028 to reach 105.7 million barrels per day, amid robust demand from the petrochemical and aviation sectors.
- Latoya Harding
- February 15, 2022
- 2 min
- February 14, 2022
Jun 15, 2023 · According to the Oil 2023 medium-term market report, support from the aviation and petrochemical sectors will drive up global oil demand by six percent from 2022 to 2028, to 105.7 million barrels per day (mb/d). However, despite this rise, yearly growth is expected to shrink from 2.4 mb/d in 2023 to only 0.4 million barrels per day in 2028.
- Cristen Hemingway Jaynes
Jun 14, 2023 · Published on Wednesday, the latest report cites an acceleration in the global shift towards renewable or low-carbon energy technologies due to ongoing high prices and security of supply concerns. The report forecasts global oil demand to rise by 6% between 2022 and 2028 to reach 105.7 million barrels per day (mb/d).
Jun 14, 2023 · Demand will rise 6% between 2022 and 2028 to reach 105.7M barrels per day on robust demand from the petrochemical and aviation sectors, the IEA said in its medium-term oil market report....
Jun 14, 2023 · Based on current policies and market trends, crude demand will rise by 6 per cent between 2022 and 2028 to reach 105.7 million barrels per day, supported by strong demand from the petrochemical and aviation sectors, the Paris-based agency said in its medium-term oil market report on Wednesday.
Jun 12, 2024 · New IEA medium-term outlook sees comfortably supplied oil markets to 2030, though unwavering focus on energy security will remain crucial as powerful forces transform sector. Growth in the world’s demand for oil is expected to slow in the coming years as energy transitions advance.
